Housing Market, Federal Aid | featured news

After more than a year of keeping rates low, the government is winding down federal supports, whether the housing market is ready or not.

Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.

President Barack Obama announced fresh aid to struggling homeowners in California Thursday, playing a bit of divide-and-conquer by pitting his Republican critics in Washington against GOP governors and mayors eager for the federal money.